Residential Solar Financing in Minnesota
Going solar is a smart investment—but you don’t have to pay for it all upfront.There are financing tools available that make solar accessible and affordable for Minnesota homeowners.
The 30% Tax Credit Is Ending
The federal 30% solar tax credit is scheduled to expire after December 31, 2025. The good news is that without the tax credit, manufacturers have improved pricing, allowing for similar ROIs —thanks to higher producing panels providing substantial bill savings.
Local incentives: some utilities and municipalities have residential solar rebates; typically about $500. These are typically listed on their respective websites. Xcel Solar Rewards: Xcel Energy has an incentive rewards program called Solar*Rewards. Since Xcel is the largest utility provider in the metro area, this is a big deal for solar customers in the Twin Cities! You will be paid for every kilowatt-hour produced from your system for ten years. The figure is based on an annual production of kilowatts from your solar panel array and checks come once a year. Cedar Creek Energy will be happy to complete and submit all the paperwork for you.
Minnesota Center for Energy and Environment (CEE) Loans
The Center for Energy and the Environment (CEE) offers specialized loan programs for residential solar. These loans provide low-interest financing, often with flexible terms. The current residential solar loan information and the online customer loan application can be found on the Minnesota CEE website. There are also city-specific loan options.
Talk to Your Lender
Don’t forget—your own bank or credit union may also offer green-energy or home-improvement loans that fit solar projects. We encourage you to bring them your solar proposal and compare terms.
Home Equity Line of Credit (HELOC)
Watch out for financing programs that seem too good to be true! If a loan offers below market-rate interest rates, it may be packed with hidden fees.
Cedar Creek Energy recommends connecting with us to review details before you begin a loan program.
